Research Ideas and Outcomes :
Forum Paper
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Corresponding author: Urmas Kõljalg (urmas.koljalg@ut.ee)
Academic editor: Editorial Secretary
Received: 19 May 2022 | Accepted: 15 Jun 2022 | Published: 17 Jun 2022
© 2022 Urmas Kõljalg, R. Henrik Nilsson, Arnold Tobias Jansson, Allan Zirk, Kessy Abarenkov
This is an open access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Citation:
Kõljalg U, Nilsson RH, Jansson AT, Zirk A, Abarenkov K (2022) A price tag on species. Research Ideas and Outcomes 8: e86741. https://doi.org/10.3897/rio.8.e86741
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Species have intrinsic value but also partake in a long range of ecosystem services of major economic value to humans. These values have proved hard to quantify precisely, making it all too easy to dismiss them altogether. We outline the concept of the species stock market (SSM), a system to provide a unified basis for valuation of all living species. The SSM amalgamates digitized information from natural history collections, occurrence data, and molecular sequence databases to quantify our knowledge of each species from scientific, societal, and economic points of view. The conceptual trading system will necessarily be very unlike that of the regular stock market, but the looming biodiversity crisis implores us to finally put an open and transparent price tag on symbiosis, deforestation, and pollution
digital species, valuation of species, trading system, biodiversity, economy, informatics
Species are one of the three major elements of biodiversity, the other two being genes and ecosystems. More than 2 million species have been formally described by science so far, and another 10 million or more await formal description (
Species are composed of physical entities called individuals. Examples of such individuals are living animals, plants, fungi and bacteria in natural habitats – but also their tissue samples in biological collections and DNA in biobanks. In addition, a single organism may have several individuals, e.g., a preserved specimen in a collection and its frozen tissue or purified DNA in a biobank. Extinct species may similarly be represented by distinct individuals through, e.g., fossil specimens or other preserved parts, although DNA data will be less common. All these individuals may be represented by one or more digital records in different databases. We could therefore argue that there are digital species (DS) composed of datasets of records on individuals (
Digital species can be created by clustering data records of individuals. Currently the most straightforward way to accomplish this is to use publicly available DNA sequences in the public sequence databases such as the INSDC. After all, DNA sequences readily lend themselves to analyses covering all extant taxa, and there is furthermore a large selection of computational tools available for the purpose (
For stable communication of digital species, persistent identifiers (PID) are needed in parallel with traditional species names (
A mycological example of a Digital Species (DS). It is based on so-called Species Hypotheses (SHs) published by the UNITE Community (https://unite.ut.ee). The SH paradigm offers stable identification and communication of described and undescribed species. They include several essential elements of the DS as follows: (A) Digital Object Identifier (DOI) is a collective identifier for all individuals included in this taxon; (B) Taxon name connects the SH with (C) classification (i.e., the tree of life); (D) individuals of the SH often accompanied by rich ecological data like – in this case – the interactions of the fungal SH with plant species; (E) individuals may include multimedia to visualise different features and traits of the DS; (F) DOI metadata feature information on who (and when) published the current SH and provides downloading options for the dataset; (G) the largest data panel includes all individuals and their associated data in browsable mode; and (H) single individual with Sequence ID as a link to the GenBank nucleotide archive. The interacting taxon is an orchid species - Corallorhiza striata - found in United States. The row ends with DNA sequence data which can be browsed to the right.
The valuation of species can be based on non-anthropogenic as well as anthropogenic values. It is clearly problematic to quantify the non-anthropogenic value of species over all taxa in one and the same way. If we start to quantify the value of nature, it becomes anthropogenic immediately. Therefore, it seems reasonable to initially set one and the same, identical base value to all species, ranging from Homo sapiens Linnaeus to parasites and pests. The anthropogenic value of species is based on diverse traits, including ecosystem services, which ideally can be quantified precisely. The main requirement, however, is that such traits can be digitized according to accepted data standards and connected to the data records of the digital species. This will allow automated book-keeping of the digital species, automation being the only feasible approach as the numbers of species runs into the tens of millions or more. One such trait would be the citation rate of the species name (or PID of the digital species) in publications. This requires that publishers, data portals, and species identification pipelines use the same or linked species PID systems. The number of high-quality data records per digital species is another useful trait in the valuation process. To avoid inflation of data records, some kind of weighting or filtering approach may be needed. Millions of DNA sequences of some single species or tens of thousands of observations of popular bird species are examples of where down-weighting may be called for. Protected, threatened, and keystone species should receive higher a value, but a valuation standard of such species is needed. Funded research that produces data records of the digital species is another useful measure. Species whose underlying research is better funded should potentially be assigned a higher value. As a consequence, parasites and disease agents may become the species with the highest values. The funding parameter can also be used in the opposite direction, namely to find species of high value but that are not covered by well-funded research efforts.
The value of the species and datasets of the digital species become the foundation of the species stock market. The trading system we envision is conceptually very different from the normal stock market. Just like the regular stock market, though, the species stock market seeks to provide an instantaneously updated estimate of the value of each and every item in its holdings. However, unlike the regular stock market, the species stock market does not seek to transfer ownership rights of species among shareholders. Instead, the concepts of buying and selling will have to assume new forms. The act of turning a natural meadow into an industrial site – thus effectively terminating a specified or estimated number of individuals of a set of species – could be compared to selling on the species stock market. The species stock market would be able to put a price tag on this transaction. The price could be thought of as an invoice that the seller needs to settle in some way that benefits global biodiversity, such as through a donation to a pre-approved, biodiversity- or climate change-oriented welfare organization. Conversely, taking some action that benefits biodiversity as estimated through individuals of species would be akin to buying on the species stock market. Buying, too, has a price tag on it, but the price should probably be thought of in goodwill terms. The species stock market would thus make it possible to valuate actions such as reforestation of an industrial site or restoration of a polluted habitat. The species stock market we envision will not allow greenwashing, that is, buying some set of species with the act of subsequently selling others in mind. Transactions would essentially be unidirectional.
Indeed, the species stock market we envision is an endeavour where no human being will make any direct monetary profit, and yet one from which all of biodiversity – including humans – benefit. We argue that the time has come to design and develop such a platform, because ecosystem services and nature protection need well-founded prices for the species in specific habitats or areas (
We thank Karl-Henrik Larsson for reading and commenting on an earlier draft of this manuscript.
Conceptualization: UK
Methodology: UK, RHN, AZ, KA
Investigation: UK, RHN, TJ, AZ, KA
Visualization: UK, AZ, KA
Funding acquisition: UK, RHN
Writing – original draft: UK
Writing – review & editing: RHN, TJ, KA